China's low-altitude economy exceeds 500 bln yuan

The size of China's low-altitude economy as of the end of 2023 is estimated at more than 500 billion yuan (US$70 billion), with its scale expected to rise to 2 trillion yuan by 2030, according to the Civil Aviation Administration of China (CAAC).

At a press conference on Wednesday, CAAC deputy head Han Jun said that, as a strategic emerging industry, the low-altitude economy has a long industrial chain, covering sectors such as aircraft R&D and manufacturing, low-altitude flight infrastructure construction and operation, and flight services.

Han said that the CAAC is promoting the construction of a low-altitude flight service system and seeks to simplify application and approval procedures for low-altitude flight plans. It will also provide support to enterprises to carry out drone logistics distribution pilot projects in provinces including Jiangxi, Guangdong, Shaanxi and Sichuan.

The low-altitude economy is an economic concept that relies on low-altitude airspace, with the general aviation sector playing a dominant role. It involves economic sectors such as low-altitude flight, air tourism, passenger transportation, general aviation services, scientific research and education, among others.

According to CAAC data, as of the end of 2023, the number of general aviation firms in China stood at 689, with 3,173 general aviation aircraft registered and 451 general aviation airports established.